fy 

University  of  California 


Alexander  Del  Mar. 

isre. 


Accessions  No.  ./.#./£#...         Shelf  No 

* 1. 


/  ^ 


HOW  TO  DETECT 

COUNTERFEIT  BAM   NOTES; 

OB, 

AN  ILLUSTEATED   TKEATISE 

ON   THE 

DETECTION  OF  COUNTERFEIT,  ALTERED,  AND  SPURIOUS 

BANK    NOTES, 

WITH  ORIGINAL  BANK  NOTE  PLATES,  ENGRAVED  EXPRESSLY  FOR  THIS  WORK 

BY 

RAWDON,  WRIGHT,  HATCH  &  EDSON, 

BANK  NOTE  ENGRAVERS,  OF  NEW  YORK. 

BY  GEORGE  PEYTON,  EXCHANGE  BROKER. 

LIBRARY 

S.XTH    THOUSAND,    j  Urj,  j  y  j,  R  ^  ,  T  y     f) 

I    CALIFORNIA 


NEW   YOEK: 

FOR,    THE    AUTHOR. 

1861. 

PRICE,  TWO  DOLLARS. 


ENTERED  according  to  Act  of  Congress,  in  the  year  1861,  by 
GEORGE   PEYTON, 

xX<#  *^> 

In  the  Clerk's  Office  of  the  District  Court  of  the  United  States,  in  and  for  the  Southern 

District  of  New  York. 


W.  H.  TINSON,  Printer  and  Stereotyper, 
43  &  46  Centre  Street  N.  Y. 


PREFACE. 


IN  a  work  of  this  description,  whose  title  is  "  How  TO  DETECT 
COUNTERFEIT  BANK  NOTES,"  a  preface  is  hardly  necessary,  because, 
if  the  book  possesses  any  merit  it  will  immediately  commend  itself 
to  the  business  public.  I  would  state,  however,  that  this  work  is 
written  with  a  view  of  not  only  enabling  all  who  take  an  interest  in 
the  subject  to  become  experts  in  the  science  of  detecting  fraudulent 
bank  notes,  but  also  to  make  them  conscious  of  the  method  by 
which  they  become  so.  I  have  condensed  the  letter-press,  and 
avoided  technicalities,  as  much  as  possible ;  though,  from  the  nature 
of  the  work,  I  have  been  forced  into  repetitions,  which,  however 
essential,  rather  mar,  in  a  literary  point  of  view,  the  symmetry  of 
the  treatise  ;  and,  in  conclusion,  if  the  reader  will  display  as  much 
assiduity  in  studying  it,  as  I  have  in  my  endeavors  to  make  it  clear 
and  comprehensive  for  his  benefit,  I  shah1  be  amply  compensated  for 
any  labor  that  may  have  been  expended  in  its  production. 

No.  470  BROADWAY. 


L  I  B  H  A  K  V 

UNJVKKS1TY    OF 

CA.UFOR 


PEYTON'S    SYSTEM 


OF 


DETECTING  COUNTERFEIT  BAM  NOTES. 


IN  presenting  the  third  edition  of  this  small  volume  to 
the  public,  I  have  found  no  occasion  to  modify  or  ex- 
punge any  of  the  principles  laid  down  in  the  earlier 
editions  ;  on  the  contrary,  I  have  received  gratifying 
evidence,  not  only  of  their  practicability,  but  also  of  the 
facility  with  which  pupils,  through  their  instrumentality, 
became,  in  a  short  time,  accurate  judges  of  bank  notes. 

Since  the  first  edition  was  issued,  various  efforts  have 
been  made  by  bank-note  engravers  to  prevent,  if  possi- 
ble, the  counterfeiting  and  altering  of  bank  notes  ;  and 
with,  I  regret  to  say,  very  indifferent  success.  The 
truth  is,  that  bank-note  engraving  has  been  carried  to 
such  a  degree  of  perfection  in  this  country,  that  it  may 
well  be  questioned  whether  it  is  susceptible  of  much 
further  improvement.  As  I  stated,  however,  in  the 
earlier  editions  of  this  treatise,  and  wish  to  state  again, 


6  PEYTON'S  SYSTEM  OF  DETECTING 

in  the  most  earnest  manner,  "that  all  the  advantages 
which  the  present  system  of  bank-note  engraving  pre- 
sents, and  all  the  safeguards  against  fraud  which  it 
furnishes,  are  beneficial  to  those,  and  those  only,  who 
are  critically  familiar  with  it  as  a  work  of  art."  In  other 
words,  those  who  are  ignorant  of  the  nature  and  con- 
struction of  the  designs  found  on  all  modern  bank  notes, 
known  as  lathe-work,  bas-relief,  parallel  ruling ;  and 
who  look  upon  the  exquisitely  engraved  vignettes  as 
merely  pictorial  embellishments,  can  never  become 
capable  of  determining,  with  any  degree  of  accuracy, 
the  genuineness  of  bank  notes. 

It  certainly  requires  no  argument  to  prove  that  the 
most  perfect  bank-note  design,  both  as  to  construction 
and  execution,  can  be  of  little  service,  so  far  as  protec- 
tion against  fraud  is  concerned,  to  one  who  has  lost  his 
eyesight ;  and  I  cannot  see  the  impropriety  of  consider- 
ing all  who  have  not  availed  themselves  of  the  decided 
advantages  which  a  knowledge  of  modern  bank-note 
engraving  confers,  in  the  detecting  of  counterfeit  bank 
notes,  as  but  little  better  off  than  their  blind  neighbor. 
It  is  remarkable,  in  a  business  community  like  ours,  in 
which  everything  relating  to  profit  is  so  perseveringly 
kept  in  view,  that  so  important  a  feature  as  that  of 
being  able  to  distinguish  a  good  bank  note  from  a  bad 
one,  should  have  received  so  little  attention. 

"The  enormous  quantities  of  fraudulent  bank  notes, 


COUNTERFEIT    BANK    NOTES.  7 

of  every  possible  character,"  says  an  influential  Bank- 
Note  Detector,  in  a  late  issue,  "put  in  circulation  daily, 
is  incredible.77  It  is  evident,  notwithstanding  the  large 
number  of  publications  devoted  to  the  description  and 
detection  of  fraudulent  issues,  that  the  number  of  forge- 
ries is  increasing  every  day.  It  is  also  certain  that  those 
who  consult  the  pages  of  these  "  detectors,"  obtain 
nothing  but  vague  and  contradictory  ideas,  of  no  perma- 
nent value  whatever  ;  and  who,  after  years  of  perplexing 
study,  find  themselves  as  ignorant  of  the  subject  of 
detecting  counterfeit  notes,  as  when  they  first  began 
their  inquiries. 

Hence  it  is  that  so  many  persons  have  abandoned  the 
idea  of  ever  becoming  competent  judges. 

Now,  the  true  method  of  detecting  counterfeit  bank 
notes  will  be  found,  on  a  careful  examination,  to  be 
quite  simple. 

If  the  reader  had  never  seen  a  diamond,  for  instance, 
and  it  became  necessary  for  him  to  acquire  a  sufficient 
knowledge  of  its  character  to  enable  him  to  distinguish 
it  readily  from  an  imitation,  what  course  would  he  pur- 
sue ?  He  would,  I  think,  obtain  from  a  reliable  source 
a  diamond  of  whose  genuineness  there  could  be  no 
doubt.  He  would  then,  by  frequent  and  careful  exami- 
nation of  this  specimen,  gradually  familiarize  his  eye 
with  those  characteristics  by  which,  independently  of  its 
physical  properties,  the  true  gem  can  alone  be  recog- 


8  PEYTON'S  SYSTEM  OF  DETECTING 

nized.  If  he  is  now  informed  that  all  genuine  diamonds 
are  precisely  of  the  character  of  the  one  under  consider- 
ation, and  that  the  only  shade  of  difference ,  if  difference 
it  may  be  called,  is  that  produced  by  the  lapidary,  in  his 
method  of  cutting  the  rough  stone,  his  knowledge  of  the 
subject  will  have  been  much  increased.  He  will  now  be 
shown  the  few  styles  in  which  diamonds  are  cut,  and 
these,  with  a  little  examination  of  the  gems  so  shaped, 
he  readily  comprehends ;  and  so  obtains  a  practical 
knowledge  of  a  subject  of  which  he  was,  a  few  days 
before,  entirely  ignorant.  If  an  imitation  diamond, 
made  of  glass,  be  now  shown  to  him,  he  will  imme- 
diately detect  its  character ;  and  why  ?  because  he 
would  perceive  that  it  possessed  none  of  those  essential 
qualities  which  he  knows,  by  experience,  are  to  be 
found  in  the  true  stone. 

Now  the  character  of  every  commodity — bank  notes 
included — of  which  the  eye  is  the  determining  agent, 
has  to  be  decided  on  precisely  similar  grounds  ;  and  it  is 
only  asserting  a  truism,  in  saying  that  it  is  impossible  to 
detect  a  counterfeit  article  without  an  intimate  knowledge 
of  the  genuine  one  j  and  that  the  ability  to  detect  the  one 
is  in  direct  ratio  to  the  knowledge  possessed  of  the 
other. 

The  method  of  instruction  adopted  in  this  treatise 
is  analogous,  in  many  respects,  to  the  above  illustra- 
tion. 


COUNTERFEIT    BANK   NOTES.  9 

The  accompanying  bank-note  Designs,  or  illustrations, 
were  engraved,  as  the  reader  will  perceive,  by  the  emi- 
nent house  of  Rawdon,  "Wright,  Hatch  &  Edson,*  and  are 
of  so  general  a  character  as  to  embody  all  the  particulars 
that  go  to  make  up  the  genuine  bank  note  ;  and  while 
the  pupil  is  familiarizing  himself  with  these,  he  is  in 
reality  becoming  familiar  with  the  entire  bank-note  issue 
of  the  country.  All  genuine  bank-note  engraving  is 
essentially  the  same,  and  a  critical  knowledge  of  one 
bank  note  is — as  in  the  case  of  the  diamond — a  critical 
knowledge  of  all  bank  notes. 

In  concluding  these  introductory  remarks,  I  may  add 
that  I  shall  endeavor  to  make  this  subject  clear  to  the 
pupil  in  the  following  pages,  and  to  place  him  in  a  posi- 
tion by  which  he  may  be  enabled,  with  a  little  persever- 
ance on  his  part,  to  claim  for  himself  the  unquestionable 
advantages  which  a  correct  knowledge  of  bank  notes 
confers. 


*  -This  house  is  now  a  component  part  of  the  American  Bank  Note  Company,  incorporated  in  1858, 
•and  comprises  among  its  members  all  the  former  Bank  Note  Houses  (as  enumerated  below),  having 
thus  at  its  command  all  their  talent,  skill,  and  experience,  both  artistic  and  mechanical. 

The  following  firms  were  united  in  the  formation  of  this  Company :  Rawdon,  Wright,  Hatch  & 
Edson ;  Toppan,  Carpenter  &  Co. ;  Danforth,  Perkins  A  Co. ;  Bald,  Cousland  &  Co. ;  Jocelyn,  Draper, 
Welsh  &  Co. ;  Wellstood,  Hay  &  Whiting;  New  England  Bank  Note  Co. ;  John  E.  Gavit;  Edmonds, 
Jones  &  Smillie. 


10  PEYTON'S  SYSTEM  OP  DETECTING 


Many  years'  active  experience  in  the  exchange  busi- 
ness has  convinced  me,  conclusively,  that  the  multiplicity 
of  counterfeit,  altered,  and  spurious  bank  notes,*  which 
have,  from  time  to  time,  been  forced  into  our  circulating 
currency,  has  been  owing  more  to  the  very  imperfect 
knowledge  we  possess  of  what  constitutes  good  bank- 
note engraving,  than  to  any  ability,  in  point  of  work- 
manship, displayed  by  the  counterfeiter  in  producing 
those  fraudulent  issues. 

So  diffused,  indeed,  is  this  ignorance,  that  not  one  per 
cent,  of  the  community  knows  the  object  or  character 
of  those  beautiful  devices  which  are  to  be  found  on  every 
genuine  bank  note,  and  which  constitute  the  only  safe- 
guard against  fraud  it  can  furnish.  With  the  remaining 
ninety-nine  per  cent.,  paper  money  is  strictly  enigmatical. 
Some  judge  from  the  first  impression  their  minds  receive 
on  glancing  at  a  note  ;  others  place  great  faith  in  pin 


*  Counterfeit  notes  are  those  which  are  fac-similes  of  the  genuine. 
Spurious  notes  are  those  which  differ  entirely  from  the  genuine. 

Altered  notes  are  those  whose  title,  locality,  or  denomination,  has  been  extracted  and  some  other 
one  pasted  or  printed  in  Hs  place. 


COUNTERFEIT   BANK   NOTES.  11 

holes  ;  others,  again,  consider  certain  conditions  of  the 
ends,  whether  they  be  thumbed  or  not,  infallible.  Numer- 
ous other  methods  might  be  mentioned,  if  it  were  at  all 
necessary,  which  would  show  the  apparently  hopeless 
condition  we  are  in  respecting  a  correct  knowledge  of 
our  paper  currency.  The  cause  of  this  confusion 
unquestionably  arises  from  the  multitude  of  banks  issu- 
ing notes,  together  with  the  universal  idea,  that  to  be  a 
good  judge  of  paper  money,  it  is  essential  to  be  acquainted 
with  each  individual  issue  in  the  country.  I  shall  endea- 
vor to  prove  that  this  idea  is  as  erroneous  as  it  is 
impracticable,  and  that  a  correct  and  certainly  rational 
method  may  be  determined  by  investigating  and  reduc- 
ing the  science  of  bank-note  engraving  to  a  few  fun- 
damental principles,  which  must,  from  the  peculiarity 
of  the  present  style,  enter  into  and  form  an  integral 
part  of  each  genuine  bank  note  issued. 

Every  science  originates  in  fixed  and  definite  princi- 
ples; and  in  the  most  abstruse,  these  are  few  and  simple. 

Botany  was  so  admirably  systematized  by  the  cele- 
brated Linnaeus,  that  a  few  hours'  attentive  study  affords 
the  student  as  much  knowledge  of  the  science  as  so 
many  years'  labor  under  the  old  method. 

And  that  profound  naturalist,  Cuvier,  informs  us  "  that 
if  you  have  but  the  extremity  of  a  bone  well  preserved, 
you  may,  by  attentive  consideration,  and  the  aid  of  the 
resources  which  anatomy  furnishes  to  skill,  determine  all 


FETTOK^S  m.M'MI  OP  niLini.i|a^| 


the  rest  quite  93  well  as  if  you  had  the  entire  skeleton 
submitted  to  you."  And  I  would  add  that  a  bank  note 
can  he  as  accurately  determined,  in  the  majority  of 
cases,  from  an  inch  of  the  engraving,  as  if  the  entire 
note  were  present 

The  remarkable  facility  with  which  a  broker  will  detect 
a  bad  note,  whether  he  has  ever  before  seen  it,  or  not* 
would  prove  that  the  difference  between  the  genuine  and 
the  counterfeit  is  of  an  exceedingly  intelligible  nature. 

ft  is  a  truth,  beyond  dispute,  that  the  counterfeit  note 
has  never  yet  been  made,  which  on  close  examination  did 
not  iBaf-lnM*  its  base  origin.  And  as  this  is  universally 
admitted  by  every  pereon  who  has  had  experience  in 
bank  notes,  I  think  no  better  evidence  can  be  required 
to  prove  that  the  present  system  of  bank-note  engraving, 
if  it  wen  generally  understood,  is  essentially  perfect  in 
every  respect  Indeed  it  would  be  a  very  difficult  matter 
to  invent  a  method  or  system  of  engraving  bank  notes, 
that  would  be  superior  to  the  one  used  mt  the  present 
time,  in  consequence,  among  other  reasons,  of  its  admi- 
rable divlHioDS  of  labor,  by  which  the  various  parts  of  the 
note  are  engraved  by  different  artiste,  each  one  making 
a  specialty  of  his  part,  and  consequently  not  only  excel- 
ling in  execution,  bat  naturally  checking  each  other,  if 
any  is  disposed  to  be  a  rogue.  Few  persons  would 
credit  the  fact,  that  to  prepare  a  bank  note  for  circula- 
tion, the  united  efforts  of  a  dozen  artists  are  required, 


13 


each  of  whom  is  perfect  in  his  department.  Sock,  how- 
ever, is  the  case :  hence  it  is  that  our  bank-note  cur- 
rency, in  an  artistic  point  of  view,  is  superior  to  any  in 
the  world. 

But  however  perfect  the  system  of  hank-note  engrav- 
ing may  he,  there  wifl  always  he  more  or  leas  ^Umijfa 
at  counterfeiting ;  and  until  the  community  are  instructed 
as  to  what  constitutes  good  engraving,  and  become  fami- 
liar with  the  characteristics  of  genuine  bank  notes,  they 
cannot  be  capable  of  protecting  themselves  from  coun- 
terfeits. 

Impressed  with  tins  view  of  the  matter,  and  which 
every  hour's  experience  confirms,  I  have  in  the  following 
pages  endeavored  to  familiarize  the  reader  with  JJIA 
basis  upon  which  afl  genuine  notes  are  constructed, 
confident  that  with  a  little  attention  to  the  points  laid 
down,  he  wifl  rapidly  master  a  science  that  has  hitherto 
been  considered  by  the  mass  of  the  population  incom- 
prehensible. 

It  may  be  proper  here  to  inform  the  reader  that, 
about  the  year  1820,  the  basis  of  the  present  Systran  of 
bank-note  engraving  was  initiated  by  Jacob  Perkins,  of 
Boston,  who  invented  and  introduced  the  transfer-press, 
by  whose  agency  engraved  designs  may  be  reproduced 
any  number  of  times  from  the  original.  The  perfection 
to  which  bank-note  engraving  has  been  brought  is,  in  a 
great  measure,  owing  to  this  admirable  invention.  A 


14  PEYTON'S  SYSTEM  OP  DETECTING 

few  years  later,  Charles  Spencer,  of  Philadelphia,  suc- 
ceeded, through  the  instrumentality  of  the  geometrical 
lathe,  in  producing  a  superior  description  of  mechanical 
engraving,  which  became  immediately  deservedly  popu- 
lar. This  kind  of  engraving  has  been  much  elaborated 
since  it  was  first  introduced,  and  now  presents  endless 
varieties  of  those  exquisite  lace-like  figures  of  every 
possible  combination,  and  which  all  attempts  to  produce 
by  hand  have  been  unsuccessful.  It  is  the  ground-work 
upon  which  the  denominations  1,  2,  3,  5,  etc.,  denoting 
the  value  of  the  note,  appear  ;  it  is  also  used  for  "  bor- 
ders/'1 "  backs,"  and  "  tail-pieces  j"  the  net- work  of  fine 
lines,  which  tints  the  faces  of  some  notes,  printed  in 
green  or  red,  is  geometrical  lathe-work,  in  its  simplest 
form.  In  connection  with  the  transfer-press  and  geo- 
metrical lathe  may  be  mentioned  the  parallel  ruling 
machine,  for  drawing  fine  parallel  lines,  invented  by 
Wilson  Lowry,  of  London:  these  three  constitute  the 
principal  mechanical  appliances  used  in  the  manufacture 
of  our  bank-note  currency,  and  to  which  I  shall  devote 
a  few  pages,  to  convince  the  reader  that  a  correct  know- 
ledge of  this  important  subject  may  be  obtained  by  a 
little  careful  attention,  on  his  part,  to  the  points  laid 
down. 

As  I  have  already  stated,  one  of  the  most  prominent 
obstacles  in  the  way  of  acquiring  an  accurate  knowledge 
of  bank  notes  is  the  erroneous  idea  that  an  intimate 


COUNTERFEIT   BANK  NOTES.  15 

acquaintance  with  each  individual  issue  in  the  country  is 
indispensable.  If  we  consider  that  there  are  1,500 
Banks,  issuing,  on  an  average,  seven  denominations  of 
notes  each,  making,  in  the  aggregate,  more  than  10,000 
distinct  issues,  the  magnitude  of  the  task  becomes  at 
once  apparent ;  and  its  practicability  would  be  best 
illustrated  by  citing  the  case  of  an  individual  who  should 
endeavor  to  learn  a  language  by  merely  committing  to 
memory  all  the  words  found  in  it,  without  knowing  any- 
thing of  its  alphabet,  or  of  the  relation  those  words  bear 
to  each  other.  In  the  study  of  bank  notes,  notwith- 
standing there  are  10,000  distinct  issues,  the  student 
will,  in  a  little  while,  discover  that  there  are  a  few  distin- 
guishing features  which  are  COMMON  to  the  entire  bank-note 
currency;  and  these,  which,  if  you  please,  you  may  call 
the  alphabet  of  bank-note  engraving,  when  once  ac- 
quired, render  the  whole  subject  plain  and  intelligible, 
in  every  respect. 

If  the  reader  will  now  turn  to  plate  No.  4,  specimen 
D,  he  will  perceive,  on  examination,  that  it  is  a  strip  of 
engraving  composed  of  beautiful  lines,  fine,  clear,  and 
mathematically  parallel.  This  is  the  product  of  the 
parallel  ruling  machine,  and  is  to  be  found  upon  every 
modern*  bank  note  in  existence.  It  is  used  by  bank- 

*  The  bank  notes  which  are  not  modern  are  those  struck  from  what  is  known  as  the  "Patent 
Stereotype  Steel  Plate,"  issued  in  the  Eastern  States  ;  they  are  few  in  number,  and  are  going  out  of 
circulation  rapidly.  There  are  a  few  other  old  plates  whose  engraving  does  not  come  up  to  the 
modern  standard. 


16  PEYTON'S  SYSTEM  OF  DETECTING 

note  engravers  for  shading  letters,  particularly  those 
composing  the  titles  or  names  of  banks  (see  "  Bank  of 
Ohio  "  on  the  plate);  also  for  "  backs"  on  which  denomi- 
nations appear  in  the  centre  of  the  note  (see  "five 
dollars  "  on  the  same  plate) ;  also  for  ground- work  of 
"clear  skies,"  " still  water,"  architecture,  etc.  If  it 
were  now  possible  for  the  reader  to  have  before  him 
the  entire  bank-note  currency  of  the  country,  and  to  ex- 
amine minutely  all  the  parallel  engraving  thereon,  and 
to  compare  the  same  with  the  specimen  strip  here  given, 
he  would  find  that  they  are  IDENTICAL  in  every  respect. 
In  a  word,  the  specimen  given  in  the  plate  is  a  type  of 
all  this  kind  of  engraving  ;  and  it  must  be  evident  that 
when  the  pupil's  eye  becomes  thoroughly  familiar  with 
it,  he  will  have  obtained  the  mastery  over  a  portion,  at 
least,  of  every  bank  note  engraved  after  the  modern 
process. 

Counterfeiters  have  always  been  severely  exercised  in 
their  attempts  to  produce  parallel  ruling.  The  impossi- 
bility of  doing  it  effectually  by  hand,  the  skill  and  expe- 
rience necessary,  even  with  the  aid  of  machinery,  to 
make  the  most  ordinary  quality,  render  it  no  trifling 
obstacle  to  overcome.  Hence,  the  experienced  eye  has 
no  difficulty  in  detecting  the  counterfeit  work — its  lines 
being  coarse,  clouded,  and  otherwise  imperfect ;  or,  to 
avoid  coarseness,  they  are  engraved  so  indistinctly  as  to 
suggest  the  idea  of  having  been  put  on  with  a  brush. 


COUNTERFEIT   BANK   NOTES.  17 

the  genuine,  on  the  contrary,  always  presenting  the 
lines  clear,  uniform,  and  perfect  in  every  respect. 

The  specimen  given  in  the  plate  has  been  prepared 
for  the  purpose  of  affording  the  student  an  opportunity 
of  familiarizing  his  eye  with  standard  work  ;  his  progress 
will,  in  a  measure,  depend  upon  his  intelligence  and  per- 
severance. It  is,  perhaps,  unnecessary  to  inform  him 
that  the  strips  are  larger  than  any  he  will  find  on  notes, 
as  there  are  no  letters  or  figures  cut  upon  them ;  the 
specimens  given  are  about  the  extremes  used. 

In  examining  bank-note  engraving,  everything  de- 
pends upon  judicious  analysis — the  art  of  separating  the 
engraving  under  examination  into  the  smallest  possible 
intelligible  parts,  each  of  which  must  be  scrutinized  as 
if  its  quality  determined  the  whole.  Hence,  in  studying 
the  ruling  given,  the  pupil  should  separate  it  into  lines, 
as  if  he  were  counting  it,  holding  it  as  near  the  eye  as 
possible,  without  distressing  the  sight,  and  permitting 
the  light  to  fall  upon  it  over  the  left  shoulder. 

The  next  important  feature  in  bank-note  engraving  is 
the  geometrical  lathe-work.  By  looking  at  the  centre 
of  fig.  A,  plate  3,  the  net- work,  or  simplest  execution  of 
the  geometrical  lathe,  will  be  distinctly  visible.  As  the 
figure  increases  in  size,  it  becomes  more  complicated, 
until  half-a-dozen  figures  are  encircled  one  within  the 
other,  all  showing  different  styles  of  work.  It  will  be 
perceived  that  the  lines  are  fine  and  perfect,  like  the 

3 


18  PEYTON'S  SYSTEM  OF  DETECTING 

parallel  ruling,  but  are  woven  into  a  pattern,  which  is  the 
peculiarity  of  this  work.  If  the  pupil  will  examine 
carefully  all  the  Counters  given  in  this  plate,  except 
those  marked  B,  he  will  find  that  they  are  composed  of 
similar  work,  but  of  a  more  elaborate  pattern. 

The  endless  varieties  of  these  Combinations,  formed 
by  the  aid  of  the  geometrical  lathe,  can  only  be  equalled 
by  the  kaleidoscope. 

In  determining  the  genuineness  of  lathe-work,  the 
pupil  must  bear  distinctly  in  mind  that  the  fineness  of 
the  line  or  thread,  and  the  clearness  and  regularity  of 
the  pattern  into  which  it  is  woven,  are  alone  the  evi- 
dences upon  which  his  judgment  must  rest. 

In  all  genuine  work,  no  matter  how  intricate  it  may 
appear,  the  lines,  and  the  manner  in  which  they  are 
woven,  will  be  clearly  and  distinctly  visible.  Counter- 
feit lathe-work,  on  the  contrary,  is  always  -imperfect. 
The  boundary  of  the  figure  and  its  subdivisions  are  the 
same  in  appearance  as  the  genuine  j  but  the  fine  lace- 
work  which  fills  up  these  divisions  is  always  wanting, 
while  dots  and  scratches  of  a  smoky  and  unsatisfactory 
appearance  are  substituted  instead. 

The  Counters  marked  B  are  also  composed  of  lines, 
which  by  the  introduction  of  light  and  shade,  appear 
raised — hence  the  name  bas-relief.  This  style  of  work 
is,  to  a  certain  extent,  abandoned  at  the  present  day. 
The  genuine  can  be  determined  by  observing  the  pattern 


COUNTERFEIT    BANK    NOTES.  19 

formed  by  the  lines  which  stand  out  distinctly  from  the 
groundwork.  In  the  counterfeit  the  lines  are  scratchy, 
and  the  pattern  is  coarse  and  clumsy. 

In  geometrical  lathe-work,  I  would  inform  the  reader, 
if  he  has  not  noticed  the  fact,  that  the  color  of  the  line 
is  sometimes  black  and  sometimes  white:  black  on  a 
white  ground,  and  white  on  a  black  ground.  The  black 
line  is  the  original  production  of  the  lathe  ;  but,  by  an 
elaborate  process,  it  is  converted  into  a  white  line  on  a 
black  ground.  The  white  line  is  usually  adopted  in 
preference  to  the  black  one,  though  the  quality  is  the 
same  in  each.  The  various  parts  of  the  note,  whether 
the  engraving  be  mechanical  or  artistical,  are  executed 
on  thin  squares  of  steel,  after  which  they  are  TRANSFERRED 
on  cylinders — thus  becoming  the  "  rolls,"  or  dies  of  the 
bank-note  engraver. 

In  using  the  term  transfer,  it  may  be  necessary  to 
state  what  is  understood  by  the  word. 

If  you  take  a  coin  and  press  it  on  the  surface  of  a  piece 
of  wax,  or  any  other  equally  soft  substance,  certain 
indentations  corresponding  to  its  letters  and  characters 
will  be  produced  ;  if  these  indentations  are  filled  with 
ink,  and  paper  or  cloth  pressed  over  them,  an  exact 
printed  copy  of  the  original  coin  is  the  result.  In  bank- 
note engraving,  a  piece  of  softened  steel,  about  three 
inches  square  and  one-eighth  of  an  inch  thick,  is  selected, 
and  upon  its  surface  is  engraved,  either  by  hand  or 


20  PEYTON'S  SYSTEM  OF  DETECTING 

machinery,  the  design  required.  After  it  is  finished  in 
every  respect,  it  undergoes  the  process  of  carbonization, 
or  in  other  words,  it  is  converted  into  the  hardest  steel ; 
it  is  now  ready  to  be  transferred.  This  is  performed  by 
means  of  a  powerful  machine  termed  a  transfer  press, 
weighing  about  a  ton,  and  capable  of  exerting  an  immense 
pressure  ;  the  design  is  brought  under  a  small  cylinder 
of  softened  steel,  which  is  rolled  over  it  with  such  force 
by  the  machine,  as  to  take  up  in  relief  every  line  in  the 
most  perfect  manner.  The  cylinder  is  hardened,  and  is 
then  capable  of  transferring  its  design  to  a  bank-note 
plate,  by  being  rolled  over  it  in  the  same  manner. 

"We  now  come  to  Letters  and  Figures. 

Genuine  letters  and  figures  are  distinguished  by  their 
fine  finished  clear  outlines,  and  by  their  neat  and  grace* 
ful  proportions.  The  principal  point  which  distinguishes 
counterfeit  letters  and  figures  is  the  outline,  which  beard 
evidence  of  the  unsteadiness  of  the  hand  that  engraved 
it.  In  notes  whose  titles  have  been  altered,  this  defect  is- 
strikingly  apparent. 

The  round  hand  or  script,  in  the  body  of  the  note—* 
"Will  pay  to  bearer  on  demand" — which  is  given  ii* 
Plate  4,  is  to  be  found  on  all  bank  notes,  and  must  be 
carefully  studied  in  the  following  manner.  Fix  your  eye* 
on  the  extreme  point  of  the  curve  which  forms  the  left 
of  the  W,  and  trace  it  over  with  your  eye  slowly  and 
carefully  ;  then  down  the  heavy  stroke,  up  again  the 


COUNTERFEIT   BANK   NOTES.  21 

hair  stroke,  down  again  the  heavy  stroke,  and  up  the 
graceful  curve  which  completes  the  letter.  In  the  same 
manner  trace  all  the  letters,  always  beginning  at  the  hair 
stroke,  as  it  is  the  only  method  by  which  counterfeit 
work  of  this  kind  can  be  detected  with  facility — the 
minute  irregularities,  particularly  in  the  curves  and  hair 
strokes,  becoming  visible  by  such  close  scrutiny  only. 
This  should  be  practised  frequently. 

"We  have  now  arrived  at  the  Pictorial  Illustrations,  or 
vignettes,  which  embellish  bank  notes,  and  which  consti- 
tute by  far  the  most  important  subject  yet  discussed  in 
these  pages.  It  cannot  be  expected  that  the  ordinary 
reader  shall  fully  realize  the  many  beauties  with  which 
these  illustrations  abound,  even  after  they  have  been 
pointed  out  to  him,  without  constantly  exercising  his 
eye  on  the  models  given  ;  nor  is  it  reasonable  to  assume 
that  he  is  at  all  familiar  with  the  art  by  which  the  expert 
recognizes  that  certain  laws  are  harmonized  in  the  genu- 
ine vignette  and  transgressed  in  the  counterfeit.  The 
education  of  the  eye,  with  reference  to  engraving,  is  a 
subject  of  vast  importance,  not  only  to  those  who  wish 
to  avail  themselves  of  the  knowledge  of  engraving  for  a 
specific  purpose,  but  to  the  general  student  who  wishes 
to  study  and  contemplate  the  exhaustless  beauties  of 
nature  and  art,  clearly  and  understandingly.  We  are 
taught  by  those  who  have  made  the  subject  a  specialty, 
that  the  beauty  of  form  and  expression,  arising  from  a 


22  PEYTON'S  SYSTEM  OF  DETECTING 

perception  of  utility,  or  of  fitness  of  certain  means  to 
produce  a  certain  end,  may  be  observed  both  in  animate 
and  inanimate  objects — in  the  works  of  nature  and  art. 
In  animate  beings  we  are  gratified  by  recognizing  that  a 
certain  form  is  suited  to  the  wants  of  the  animal,  and 
that  certain  desired  effects  or  motions,  are  produced  with 
ease,  or  little  effort.  It  is  on  this  principle  that  we 
admire  the  beauty  of  the  human  form,  every  part  of 
which  is  perfectly  fitted  for  its  intended  purpose  ;  and 
that  we  admire  the  motions  of  a  horse,  a  stag,  or  a  grey- 
hound, as  being  made  without  any  apparent  difficulty, 
and  as  the  result  of  a  power  which  accomplishes  its  end 
with  the  least  possible  exertion. 

The  same  feeling  which  makes  us  take  pleasure  in 
movements  and  forms  indicating  ease,  leads  us  likewise 
to  dislike  those  which  express  constraint  and  toil :  hence, 
both  in  nature  and  art,  all  forced  and  labored  attitudes, 
all  tension  of  muscle,  all  visible  and  over-strained  efforts 
to  produce  a  certain  effect,  or  to  express  a  certain  feel- 
ing, are  offensive  to  taste.  And  thus  all  angular  or 
jerking  action,  and  all  heavy  dragging  of  the  limbs,  are 
devoid  of  beauty,  as  being  signs  of  violent  and  toilsome 
effort,  and  as  being  opposite  to  that  equable,  flowing  and 
easy  motion  in  which  grace  consists. 

And  this  may  be  further  exemplified  by  considering 
the  beauty  and  unity  of  the  features  of  the  human 
countenance  ;  and  although  we  may  labor  under  the 


COUNTERFEIT   BANK   NOTES.  23 

indifference  which  familiarity  generally  creates,  and 
overlook  their  perfection,  yet,  if  a  deformity  presents 
itself — say  the  absence  of  the  nose — a  feeling  of  intense 
commiseration  is  immediately  excited,  which  the  other 
features,  no  matter  how  beautiful  they  may  be,  cannot 
relieve.  And  thus  it  is  with  inanimate  objects,  whether 
in  nature  or  art :  in  viewing  a  landscape,  either  natural 
or  on  canvas,  the  mere  sensual  gratification  of  the  eye 
is  comparatively  so  small  as  scarcely  to  be  attended  to  ,- 
but  yet,  if  there  occur  a  single  spot  offensively  harsh  or 
glaring,  all  the  magic  instantly  vanishes,  and  the  imagi- 
nation avenges  the  injury  offered  to  the  senses.  The 
glaring  and  inharmonious  spot,  being  the  most  promi- 
nent and  obtrusive,  irresistibly  attracts  the  attention,  so 
as  to  interrupt  the  repose  of  the  whole,  and  leave  the 
mind  no  place  to  rest  upon. 

Acting  upon  these  general  principles,  the  vignette 
designer  introduces  into  his  picture  certain  combinations 
of  figures,  which,  from  their  local  character,  are  familiar 
to  every  eye  ;  and  whose  beauty  and  expression  require 
the  utmost  skill  and  ability  of  the  engravers  to  develop 
their  characteristics  naturally  and  gracefully.  Hence 
human  figures  are  the  most  prominent,  and  upon  which 
the  most  reliance  is  placed.  Next  come  domestic  ani- 
mals, with  whose  outlines  and  beautiful  proportions  every- 
body is  supposed  to  be  acquainted  ;  a  landscape  will 
now  be  necessary  to  show  the  figures  to  advantage  ;  and 


24  PEYTON'S  SYSTEM  OF  DETECTING 

this  in  turn  must  have  the  usual  quantity  of  water,  sky, 
and  perspective. 

It  will  be  seen,  then,  that  the  genuine  vignette  is  not 
merely  a  fancy  sketch  suggested  by  the  whim  of  the 
artist,  but  a  scientifically  arranged  picture,  drawn  to  the 
life,  complete  in  all  its  parts,  and  presenting  to  the  coun- 
terfeiter the  most  serious  obstacles  to  imitation  ;  who,  in 
order  to  be  a  successful  imitator,  must  be  a  master  of  at 
least  half  a  dozen  different  branches  of  engraving ;  as 
this  is  impossible,  even  with  a  professional  artist,  it  must 
be  considered  beyond  dispute,  that  the  counterfeit  vig- 
nette will  exhibit  the  imperfections  which  usually  charac- 
terize base  imitations. 

The  following  vignettes,  introduced  to  illustrate  the 
pictorial  or  artistical  portion  of  the  bank  note,  were 
drawn  and  engraved  in  strict  conformity  with  the  pre- 
ceding remarks.  From  the  very  general  nature  of  vig- 
nette engraving,  it  cannot  be  reduced  to  any  positive 
unit ;  yet  sufficient  data  may  be  obtained  from  a  few  of 
its  leading  characteristics,  when  well  understood  by  the 
pupil,  to  determine  its  genuineness  with  certainty.  If 
the  reader  has  been  at  all  observant,  he  has  noticed,  long 
before  this,  that  upon  every  bank  note  one  vignette  at 
least  is  composed  of  human  figures  :  in  the  majority  of 
notes  in  circulation  all  the  vignettes  are  so  composed — 
the  female  figure,  from  its  absolute  perfection  in  an 
anatomical  point  of  view,  combined  with  the  grace  and 


COUNTERFEIT    BANK    NOTES.  25 

harmony  with  which  association  clothes  it,  invariably 
predominating.  Now,  as  all  human  figures  are  drawn 
in  accordance  with  a  certain  ideal  standard  of  perfection, 
it  must  be  evident  that  it  is  only  necessary  to  be 
thoroughly  familiar  with  the  peculiar  characteristics  of 
any  one,  to  be  really  acquainted  with  the  characteristics 
which  determine  ALL.  I  shall  endeavor  to  make  this 
clear  as  we  proceed. 

No.  1  is  Cupid  rolling  a  dollar ;  a  village,  and  rail- 
road cars  in  the  distance.  The  principal  object  of  this 
vignette  is  to  show  the  admirable  manner  in  which  what 
is  technically  called  fash-work  is  executed,  and  as  this  is 
an  important  branch  of  vignette  engraving,  it  may  be 
proper  to  state  that  it  is  seldom,  if  ever,  successfully 
counterfeited. 

No.  2  is  a  group  of  females,  emblematic  of  Commerce, 
Agriculture,  and  Manufactures,  whose  chaste  outline, 
beauty  of  expression,  and  artistic  execution,  cannot  be 
excelled. 

Their  arms,  necks,  and  feet  are  bare,  in  consequence 
of  the  insurmountable  difficulty  experienced  by  coun- 
terfeiters in  their  attempts  to  execute  these  parts. 

It  will  be  perceived  that  the  texture  of  the  skin  is 
represented  by  fine  dots  and  lines — an  admixture  to  be 
found  in  every  human  figure,  and  with  which  the  pupil 
must  at  once  familiarize  his  eye  ;  this,  together  with  the 
expression  or  naturalness  of  the  eyes,  nose,  mouth,  neck, 

4 


26  PEYTON'S  SYSTEM  OF  DETECTING 

fingers,  and  toes,  always  determine  genuine  work.  I 
cannot  too  forcibly  impress  on  the  pupil's  mind  the  abso- 
lute necessity  of  studying  carefully  and  efficiently  (until 
he  can  retain  their  peculiar  naturalness  with  facility  in 
his  memory)  the  points  just  named.  This  accomplished, 
he  will  find  that  in  the  counterfeit  the  skin  is  coarse — 
that  is  to  say,  the  lines  and  dots  which  represent  it — 
and  the  other  features  equally  defective. 

It  will  be  perceived  that  in  the  present  group,  our 
beautiful  goddesses  represent  Commerce,  Agriculture, 
and  Manufactures  ;  and  that  the  distinguishing  features 
before  referred  to,  viz.,  the  skin,  eyes,  nose,  mouth,  neck, 
fingers,  and  toes  are  identical  in  each.  Now  if  the  back- 
ground of  this  picture  were  converted  into  a  landscape, 
a  basket  of  flowers  placed  in  the  hand  of  one  of  the 
females,  a  sword  in  that  of  the  second,  and  a  wreath  of 
laurel  in  that  of  the  third,  the  local  character  of  the  pic- 
ture would  be  changed,  without  interfering  in  the  least 
with  those  artistic  peculiarities  before  mentioned,  and 
by  which  its  genuineness  is  to  be  determined. 

Therefore,  the  pupil  must  never  permit  himself  to  be 
embarrassed  by  the  display  of  paraphernalia,  but  must 
determine  the  genuineness  of  the  figure  by  scrutinizing 
the  parts  mentioned,  whether  the  goddess  be  floating  in 
the  clouds,  reposing  in  a  bower  of  roses,  or  condescends 
to  adopt  the  more  substantial  occupation  of  milking  cows 
or  feeding  chickens. 


COUNTERFEIT    BANK   NOTES.  27 

No.  3  represents  the  United  States  Mail  Steamship 
Baltic  in  a  gale  of  wind  ;  the  action  of  the  wind  and 
water  is  delineated  in  a  masterly  manner. 

No.  4 — "  The  Mechanic."  The  expression  of  the  coun- 
tenance is  admirable  ;  he  is  evidently  constructing  in 
his  mind's  eye  some  new  labor-saving  machine.  The 
directions  given  as  to  the  proper  manner  of  examining 
the  female  figure,  are  strictly  applicable  to  this  also  ;  the 
dots  and  lines  representing  the  texture  of  the  skin  are 
heavier  and  more -shaded  to  produce  the  masculine  ap- 
pearance, and  should  be  carefully  studied,  as  also  the 
eyes,  nose,  mouth,  chin,  arms,  and  fingers.  The  figures 
in  the  background  present  a  natural  and  expressive 
outline. 

No.  5 — An  agricultural  scene  :  the  farmer  ploughing  ; 
the  horses  are  drawn  to  the  life  ;  the  one  in  the  back- 
ground is  well  executed.  It  will  be  seen  that  in  the 
human  figure,  the  eye,  mouth,  hands  and  attitude  are  per- 
fectly natural. 

No.  6  is  a  very  pretty  sketch,  showing  sky,  still  water, 
and  shrubbery. 

No.  7 — A  marine  view :  the  ships  under  canvas,  and 
the  action  of  the  water,  are  very  spirited. 

No.  8 — A  locomotive  and  a  train  of  cars.  This  vig- 
nette is  very  popular  at  the  present  day,  owing,  no 
doubt,  to  the  spirited  appearance  which  it  presents, 
together  with  the  intricate  nature  of  the  machinery  and 


28  PEYTON'S  SYSTEM  OF  DETECTING 

the  architecture  of  the  cars,  which  require  no  ordinary 
ability  to  execute. 

No.  9 — A  distant  view  of  a  house,  such  as  is  usually 
given  in  vignettes,  showing  the  proportion  and  architec- 
ture, in  a  very  neat  manner. 

No.  10  is  a  portrait  of  a  beautiful  female,  exquisitely 
finished ;  the  texture  of  the  skin  can  be  seen  here  in  per- 
fection ;  the  hair,  showing  the  strands  and  the  reflection 
of  light,  is  admirably  given. 

No.  11  is  a  medallion  portrait  of  Washington,  whose 
countenance  will  be  immediately  recognized ;  this  is  a 
specimen  of  bas-relief ;  the  lines  are  waved,  and  by  the 
aid  of  light  and  shade,  appear  raised  from  the  surface. 
This  is  a  mechanical  production. 

No.  12  is  an  Indian  viewing  the  evidences  of  civiliza- 
tion. The  dots  and  lines  which  denote  the  texture  of 
the  skin  are  placed  close  to  each  other,  thereby  giving  it 
a  darker  and  coarser  appearance.  With  this  figure  end 
the  artistic  specimens,  all  of  which  I  shall  frequently 
refer  to  in  the  sequel. 

Before  closing  the  subject  of  vignettes,  it  may  not 
be  out  of  place  to  say  a  few  words  regarding  the  style 
and  manner  of  executing  them.  The  style  of  engraving 
universally  adopted  for  vignettes  is  known  to  artists  as 
the  line  engraving,  and  is  composed  of  etching,  "  stip- 
pling," and  lines  cut  with  the  graver.  The  etching  is  a 
chemical  process ;  the  plate  prepared  to  receive  the  en- 


COUNTERFEIT    BANK    NOTES.  29 

graving  is  first  coated  with  a  composition  like  varnish  ; 
the  artist  then,  with  an  etching  needle,  engraves  his 
design  on  the  coated  surface,  cutting  at  each  stroke 
through  the  varnish  only,  and  thereby  exposing  a  portion 
of  the  plate,  corresponding  of  course  to  the  mark  of  the 
needle.  A  preparation  of  nitric  acid  is  now  poured  over 
the  engraved  part,  which  corrodes  the  lines  or  characters 
made  by  the  needle  (the  varnish  protecting  all  the  other 
parts  of  the  plate).  This  is  termed  " biting  in,"  and  the 
length  of  time  the  acid  is  allowed  to  remain  on  the  plate 
determines  the  depth  of  the  part  so  corroded.  The  prin- 
cipal advantage  of  this  process  is  the  saving  of  labor — 
the  acid  corroding  or  eating  the  lines  into  the  plate,  which 
otherwise  would  have  to  be  cut  by  the  artist. 

The  etching  finished  and  the  plate  cleaned,  the  artist 
with  his  graver — a  tool  not  unlike  an  awl,  the  blade  of 
which,  however,  terminates  in  an  angular  point,  of  which 
there  are  many  varieties — retouches  the  corroded  parts — 
sharpening,  shading,  and  finishing — adding  new  lines  or 
crossing  those  already  formed — working,  at  each  step  in 
the  process,  with  the  utmost  care,  caution,  and  delicacy, 
often  spending  weeks  on  a  bit  no  bigger  than  the  head 
of  a  pin,  until  the  picture  is  finally  completed  in  all  its 
parts. 

Stippling  is  the  term  applied  to  that  portion  of  the 
engraving  composed  of  dots,  and  which  is  introduced  in 
human  figures,  to  convey  the  idea  of  softness  and  plump- 


30  PEYTON'S  SYSTEM. 

ness.     It  is  executed  with  the  point  of  the  graver,  or 
sometimes  with  a  finely  pointed  punch. 

Assuming  that  the  pupil  has  now  made  himself  ac- 
quainted with  the  various  points  which  have  been  dis- 
cussed, I  shall  devote  the  remaining  pages  to  a  series  of 
rules  arranged  for  his  guidance:  those  relating  to  the 
genuine  note  will  be,  to  a  certain  extent,  a  recapitulation 
of  what  has  already  been  stated  ;  those  relating  to  the 
counterfeit  note  will  point  out  all  the  imperfections 
which  experience  has  proved  to  be  inseparably  con- 
nected with  it — these  should  be  carefully  studied,  and,  if 
possible,  committed  to  memory. 


CAL1FOKSIA 


THE    PKINCIPAL    POINTS 


WHICH  CONSTITUTE 


A  GENUINE  BANK   NOTE. 


1. — NAME  OF   THE   BANK. 

THE  letters  which  compose  the  name  of  the  Bank  are 
cut  with  unerring  accuracy,  presenting  a  sharp  and  fin- 
ished outline,  and  are  invariably  neat  and  uniform,  see 

lettering  on  the  Plate. 

2. — LOCATION. 

The  name  of  the  State,  and  the  locality  in  which  the 
Bank  is  situated,  are  composed  of  smaller  letters  than 
those  in  the  title,  but  equally  perfect,  and  should  always 
be  examined. 

3. — DENOMINATION. 

The  figures  expressing  the  denomination  of  the  note 
are  beautifully  engraved  ;  their  outline,  proportions,  and 
general  execution  can  be  seen  to  advantage  in  the  speci- 
mens given  in  Plate  3. 

81 


32  PEYTON'S  SYSTEM  OF  DETECTING 

The  denomination  in  the  centre  of  the  note,  composed 
of  letters,  should  be  scrutinized  attentively.  seepiate4. 

4.  —  LETTERS   AND   FIGURES. 

All  other  letters  and  figures  of  the  note  will  be  found 
perfect  in  every  respect  ;  the  curves,  angles,  and  hair-lines 
are  without  breaks  or  flaws,  and  have  a  finished  and 
graceful  appearance.  The  writing  or  script,  "will  pay 
on  demand  to  the  bearer,"  should  be  carefully  studied, 
letter  by  letter,  and  the  hair-lines  and  curves,  with  a 
little  attention,  will  become  impressed  on  the  mind. 

5.  —  ENGRAVERS'  IMPRINT. 

The  engravers'  signature  or  imprint,  near  the  margin 
of  the  note,  is  clearly  and  beautifully  engraved,  the  let- 
ters, particularly  the  capitals,  are  perfectly  executed, 
without  the  slightest  flaw  or  imperfect  turn  in  the  entire 

See  illustration. 


6.  -  TINTS. 

The  green  and  red  tints  which  are  to  be  found  on 
most  bank  notes,  are  composed  of  a  net-  work  of  fine  but 
plain  lines,  executed  with  the  lathe  ;  the  letters  and 
figures  printed  in  those  colors,  denoting  the  value  of  the 
note,  are  also  lathe-work.  A  very  pretty  specimen  of 
the  plain  style  is  given  in  Plate  4,  border  C,  in  which 
the  line,  and  the  manner  in  which  it  is  woven  can  be 
distinctly  traced. 


COUNTERFEIT    BANK    NOTES.  33 

7. PARALLEL    RULING. 

Parallel  ruling,  as  before  described,  is  always  clear 
and  regular.  Examine  critically  the  shading  of  the  let- 
ters which  compose  the  title  of  the  Bank ;  also  the 
shading  of  those  which  compose  the  name  of  the  State 
and  the  locality  in  which  the  Bank  is  situated.  In  every 
instance,  the  pupil  will  find,  on  the  genuine  note,  the 
parts  referred  to  executed  in  the  most  perfect  manner. 

See  Plate  4. 

8. — BAS-RELIEF. 

Bas-relief  is  composed  of  lines  which,  by  the  judicious 
introduction  of  light  and 'shade,  appear  raised.  seePiates, 

Fig.  B. 

9. — GEOMETRICAL    LATHE- WORK. 

Geometrical  lathe- work  has  been  discussed  at  length 
in  another  page  ;  nothing  can  be  added  here  but  a  reit- 
eration of  the  same  remarks  :  study  carefully  and  dili- 
gently the  genuine  work. 

10. — VIGNETTE. 

The  vignettes  described  on  bank  notes,  from  their 
exquisite  beauty  and  finish,  present  to  the  counterfeiter 
the  most  serious  obstacles.  The  engravings  given  in  the 
plates  are  conclusive  evidence  of  the  advanced  state  of 
the  art,  in  this  country,  at  the  present  day. 

11. — PRINCIPAL   FIGURE. 

The  principal  figure  in  the  vignettes  of  the  various 

5 


34  PEYTON'S  SYSTEM  OF  DETECTING 

engravers,  is,  with  few  exceptions,  a  female  :  this,  from 
its  expressive  anatomy  and  graceful  proportions,  requires 
the  most  skillful  efforts  of  the  artist. 

12. — HAIR. 

The  hair  is  neatly  and  naturally  arranged  ;  and  on 
closely  examining  it,  the  strands,  and  the  reflection  of 
the  light  on  it,  are  discernible,  see  Fig.  2  and  rig.  10. 

13. FLESH. 

..  The  texture  of  the  skin  is  represented,  as  before 
stated,  by  fine  dots  and  lines,  intermixed :  the  dots  usu- 
ally denoting  the  parts  upon  which  the  light  falls — as 
may  be  seen  by  examining  the  forehead  of  the  female, 
Fig.  10 — and  the  lines  denote  the  parts  that  are  slightly 
shaded,  as  may  be  seen  on  the  neck  of  the  same  figure. 
The  shaded  part  is  made  by  the  lines  crossing  each  other 
at  acute  angles,  forming  a  beautiful  lozenge  work ; 
though  sometimes  but  one  course  of  lines  is  given,  espe- 
cially when  the  shading  is  intended  to  be  heavy. 

Examine  Fig.  2,  particularly  the  shaded  sides  of  the  arms  and  neck. 

14. — EYES. 

The  eyes  are  an  important  point  in  the  note  ;  their 
principal  characteristic  being  that  the  pupil  is  distinctly 
visible,  showing  the  white  clearly. 

In  examining  them,  it  is  well  to  look  at  both  at  the 
same  time,  and  the  naturalness  of  their  expression  will 
then  be  manifest,  see  rig.  2, 


COUNTERFEIT    BANK   NOTES.  35 

15. NOSE,    MOUTH,    AND   CHIN. 

The  nose,  mouth,  and  chin  are  well-formed,  natural, 
and  expressive  ;  the  lips  are  slightly  pouting,  and  the 
chin  is  well  thrown  out.  seeFig.2. 

16. — NECK. 

The  natural  contour  of  the  neck  is  displayed  by  the 
delicate  shading,  and  its  proportions  perfectly  harmonize 
with  the  rest  of  the  figure,  see  Figs.  2  and  10. 

17. — ARMS. 

The  arms  have  their  graceful  curve  ;  the  flesh,  as 
before  mentioned,  is  represented  by  delicate  dots  and 
fine  lines,  so  intermixed  as  to  convey  an  idea  of  plump- 
ness. See  Fig.  2. 

18. — HANDS. 

To  delineate  the  hands  properly,  requires  all  the  ability 
of  the  artist. 

Observe  carefully  the  fingers,  and  the  natural  manner 
in  which  they  are  displayed  :  the  life-like  sense  of  touch 
they  exhibit  is  masterly,  see  Fig.  2. 

19. — FEET. 

The  feet  require  a  like  degree  of  skill ;  the  toes  are 
clearly  and  accurately  defined.  seeFig.2. 

20. — DRAPERY. 

The  drapery  is  neatly  and  elegantly  arranged ;  the 
heavy  lines  denoting  the  coarse  texture,  and  the  fine  ones 


36  PEYTON'S  SYSTEM  OF  DETECTING 

the  ethereal  gossamer,  which  is  evidently  a  fashionable 
fabric  in  the  regions  of  fancy,    see  Fig.  2. 

21. — MALE   FIGURE. 

The  male  figure  in  no  respect  differs  from  the  female, 
except,  of  course,  that  it  is  more  masculine,  and  the  dots 
and  the  lines  representing  the  flesh  are  closer  to  each 
other  and  appear  coarser  ;  but  the  eyes,  mouth,  hands, 
feet,  and  general  expression,  are  determined  in  precisely 
the  same  manner. 

Indians  have  their  peculiar  dark  complexion  and 
muscular  appearance  ;  the  white  of  the  eye  is  clearly 
seen,  and  the  fingers  and  toes  are  properly  developed. 

See  Figs.  4  and  12. 

22. — PORTRAITS. 

The  portraits,  whether  representing  males  or  females, 
are  executed  in  the  most  elaborate  manner  ;  all  the  fea- 
tures of  the  countenance  before  mentioned,  are  admirably 

given.      See  Fig.  10. 

23. LANDSCAPES. 

The  landscapes  to  be  found  on  bank  notes,  are  well 
finished  in  every  respect — trees,  water,  sky,  etc. 

Trees  and  shrubs  are  neatly  drawn,  the  limbs  are  well 
proportioned,  and  the  foliage  has  a  luxuriant  appearance. 

The  "  still"  water  is  represented  by  parallel  lines,  with 
streaks  of  white  to  show  the  reflection  of  light,  and  to 
produce  a  limpid  effect. 


COUNTERFEIT   BANK   NOTES.  37 

Clear  skies  are  formed  of  fine  parallel  lines,  and  when 
clouds  or  heavy  skies  are  required,  they  cross  each  other. 

For  trees,  shrubs,  still  water,  and  clear  skies,  see  Fig.  6. 
For  heavy  skies,  see  Figs.  8  and  T. 

24.  —  DOMESTIC  ANIMALS. 

Domestic  animals  of  every  description  —  horses,  oxen, 
sheep,  etc.,  etc.,  are  drawn  to  the  life  ;  their  eyes,  limbs, 
and  proportions  are  perfectly  accurate,  and  cannot  fail 
to  impress  the  reader  favorably  with  the  accuracy  of 
bank-note  engraving. 


25.  —  PERSPECTIVE. 

The  perspective,  showing  a  distant  view  of  the  sur- 
rounding country,  is  always  clear  and  distinct  —  the  sky 
fades  away  into  distance  until  it  mingles  imperceptibly 
with  the  horizon.  The  small  figures  in  the  background 
are  always  exceedingly  well  engraved.  It  must  be  borne 
in  mind,  that  they  are  placed  there  for  the  purpose  of 
being  seen,  consequently  their  outline  and  general  cha- 
racter can  always  be  recognized,  see  Fig.  i. 

26.  -  ARCHITECTURE,  SHIPS,  AND  RAILROAD  CARS. 

The  lines  denoting  the  surface  of  the  materials  in 
buildings  are  arranged  in  accordance  with  the  law  of 
light  and  shade  :  hence  very  fine  lines,  gradually  becom- 
ing indistinct,  leaving  the  surface  white,  denote  the  part 
upon  which  the  light  falls,  and  on  the  opposite  or  dark 
side,  these  are  parallel  and  quite  distinct,  see  Kg.  9. 


38  PEYTON'S  SYSTEM. 

Ships  are  well  defined,  and  the  canvas  has  a  clear  tex- 
ture. Bee  Figs.  7  and  2. 

Railroad  cars  are  very  accurately  delineated  ;  in  exam- 
ining a  train,  observe  carefully  the  car  most  distant  from 
the  eye.  seerig.8. 

I  shall  now  describe  these  twenty-six  divisions  of  a 
bank  note,  counterfeited. 

The  many  species  of  counterfeit  engraving  used  in 
making  fraudulent  bank  notes — Photographic,  Anastatic, 
Lithographic,  and  impressions  from  wood,  copper,  steel, 
and  pewter,  all  differing  from  each  other,  though  equally 
bad,  when  compared  with  the  genuine — preclude  the  pos- 
sibility of  giving  counterfeit  illustrations  with  any  degree 
of  advantage. 

When  the  reader  becomes  familiar  with  genuine  work, 
he  will  then  detect  every  kind  of  counterfeit  work  without 
any  difficulty — because  what  is  not  genuine  must  be 
counterfeit. 


PKINCIPAL   POINTS 


WHICH   DETERMINE 


A  COUNTERFEIT  BANK   NOTE. 


1. NAME   OF   THE    BANK. 

THE  letters  which  compose  the  name  of  the  Bank  are 
principally  defective  in  their  outlines,  which  lack  the 
sharpness  and  finish  of  the  genuine.  This  is  particularly 
so  in  titles  which  have  been  altered.  Many  counterfeit 
titles  are,  however,  so  well  executed  that  no  written 
rules  can  possibly  point  out  the  slight  shade  of  differ- 
ence existing  between  them  and  the  genuine.  Constant 
practice  on  genuine  letters  is  the  only  remedy. 

2. — LOCATION. 

The  small  letters  which  compose  the  name  of  the 
State  and  the  locality  of  the  Bank  are  poorly  executed  ; 
examine  each  letter  separately  and  the  defects  will  be 
apparent. 


40  PEYTON'S  SYSTEM  OF  DETECTING 

3. — DENOMINATION. 

The  large  figures  expressing  the  denomination  of  the 
note  are  generally  well  engraved  ;  the  small  ones,  on  the 
contrary,  are  always  the  reverse. 

The  vulnerable  point  of  the  counterfeiter  lies  in  the 
small  engraving.  Run  your  eye  over  the  outlines  of  the 
small  figures,  and  their  imperfections  cannot  escape  you. 

4. LETTERS   AND   FIGURES. 

All  other  letters  and  figures  to  which  the  pupiFs 
attention  has  not  been  called,  must  be  determined  by 
the  general  principles  laid  down  in  this  work. 

5. — THE  ENGRAVERS'  IMPRINT. 

The  engravers'  imprint  near  the  margin  of  the  note 
is  never  correctly  engraved  ;  the  letters,  when  exam- 
ined separately,  will  be  found  imperfect,  some  of  them 
being  quite  crooked. 

6. — TINTS. 

It  must  be  borne  strictly  in  mind  by  the  pupil,  that 
the  color  of  the  ink  in  which  engraving  may  be  printed 
has  nothing  whatever  to  do  with  its  merits  in  an  artistic 
point  of  view  ;  the  quality  of  the  engraving,  not  the 
color,  is  the  point  to  be  determined.  There  are  many 
persons  who  labor  under  the  impression  that  because 
the  surface  of  a  bank  note  is  decorated  with  prismatic 


COUNTERFEIT    BANK    NOTES.  41 

colors,  it  must,  necessarily,  be  a  genuine  one.     Nothing 
can  be  more  fallacious. 

It  is  certainly  unnecessary  to  say  that  bad  engraving, 
print  it  in  whatsoever  color  you  please,  is  bad  engraving 
still — hence  the  rules  which  apply  to  counterfeit  engrav- 
ing make  no  distinction  as  to  color,  quality  being  the 
sole  point  at  issue.  It  may  be  well  to  say,  however, 
that  the  red  color  has  a  tendency  to  spread,  thereby 
giving  the  engraving  a  coarser  appearance  than  it  really 
possesses.  Counterfeit  work  printed  in  colors  can  be 
readily  detected — its  defects  being  more  glaring  than 
when  printed  with  the  ordinary  ink. 

7. PARALLEL   RULING. 

The  parallel  ruling  used  for  shading  the  letters, 
backs,  etc.,  is  generally  imperfect :  the  lines  are  coarse 
and  seldom  strictly  parallel :  to  avoid  coarseness,  the 
counterfeiter  goes  to  the  opposite  extreme,  and  makes 
these  lines  appear  as  if  they  had  been  put  on  with  a 
brush.  By  endeavoring  to  count  them,  the  minute  breaks, 
irregular  thicknesses,  and  want  of  uniformity  will  be 
discovered. 

8. — BAS-RELIEF,    OR  MEDALLION   ENGRAVING. 

The  medallion- work  presents  a  scratchy  appearance  ; 
in  portraits,  the  eyes  and  mouth  are  imperfect,  and  the 
expression  is  vague. 

6 


42  PEYTON'S  SYSTEM  OF  DETECTING 

9. — GEOMETRICAL  LATHE- WORK. 

Counterfeit  lathe -work  can  be  detected  by  the  blurred 
and  dotted  appearance  of  the  lines  where  they  intersect 
each  other. 

In  examining  curvilinear  figures,  begin  in  the  centre, 
and  then  by  gradually  following  around  the  circles,  one 
within  the  other,  you  will  discover  many  defects  which 
would  otherwise  be  overlooked. 

I  would  mention  to  the  reader,  that  on  many  counter- 
feit, or  rather  spurious  bank  notes,  the  actual  work  of 
the  lathe  is  to  be  found,  and  though  a  practised  eye 
would  instantly  detect  it,  he  cannot  expect,  without 
some  experience,  to  be  so  fortunate  ;  the  figures  I  speak 
of  are  generally  made  up  of  small  circles,  like  the  centre 
of  Figure  A. 

10. — VIGNETTES. 

The  vignette,  when  closely  examined,  will  be  found 
coarse  and  imperfect. 

11. PRINCIPAL    FIGURE. 

The  principal  figure  in  the  vignette  is  always  the  best 
finished  one,  the  counterfeiter  knowing  that  if  this  is 
passable,  the  surrounding  imperfections  will  not  be 
observed  ;  when,  however,  this  is  a  human  figure,  par- 
ticularly a  female,  his  skill  fails,  and  the  following 
defects  will  be  noticed. 


COUNTERFEIT    BANK    NOTES.  43 

12. — THE    HAIR. 

The  hair  is  coarse  and  clumsy,  and  has  an  untidy  and 
smoky  appearance. 

13. — SKIN. 

The  skin  is  invariably  defective,  and  the  most  effectual 
method  of  discovering  the  same  will  be  as  follows  : 
Centre  your  attention  on  the  forehead  of  the  figure, 
gradually  extending  your  observation  down  the  face  ; 
centre  your  attention  now  on  the  neck,  and  examine 
minutely  the  lines  which  cross  each  other  and  act  as  a 
shade  to  throw  out  the  chin ;  extend  your  observations 
now  to  the  shoulders  and  down  the  arms  to  the  hands  ; 
now  take  the  feet,  ankles,  and  any  other  exposed  por- 
tion of  the  body  showing  flesh-work.  At  each  step  in 
your  progress  concentrate  your  whole  attention  upon  but  a 
small  portion  of  the  engraving  at  a  time — say  a  few  dots  ; 
this,  though  irksome  at  first,  is  infallible,  and  the  coun- 
terfeit-work will  immediately  display  its  true  character, 
the  dots  and  lines  being  rough  and  unfinished,  and  the 
texture  of  the  skin  hard  and  artificial. 

14. — EYES. 

The  eyes  are  always  poorly  engraved.  In  the  major- 
ity, there  is  nothing  discernible  but  a  black  speck  ;  those 
which  are  considered  well  executed  have  a  little  of  the 
white,  though  the  pupil  appears  to  mix  even  with  this. 
The  distant  one  is  the  most  imperfect ;  look  directly  at 


44  PEYTON'S  SYSTEM  OF  DETECTING 

both  pupils,  and  if  either  is  crooked,  which  is  often  the 
case,  it  will  be  noticed. 

15. NOSE,    MOUTH   AND   CHIN. 

The  nose,  mouth  and  chin  are  poorly  formed  and  lack 
expression  ;  examine  each  separately,  and  then  dwell  for 
a  moment  on  the  combined  expression  of  the  eyes,  nose 
and  mouth. 

16. — NECK. 

The  neck  is  formed  by  coarse  lines,  which  are  intended 
to  throw  out  the  chin  ;  but  this,  like  all  shading  in  coun- 
terfeit figures,  will  be  detected  from  its  smoky  appear- 
ance. 

17. — ARMS. 

The  arms  have  a  disjointed  appearance — as  if  they 
were  attached  to  the  body  by  some  new  method  ;  the 
elbow  is  rather  sharper  than  is  natural ;  the  wrist  is  dark 
and  not  well  formed  ;  the  dots  and  lines  which  denote 
the  flesh  are  darker  and  coarser  than  the  genuine  ;  the 
shaded  side  of  the  arm  is  very  dark. 

18. — HANDS. 

The  hands  are  invariably  poorly  drawn,  particularly  in 
developing  the  fingers,  which  are  coarse  and  clumsy, 
without  any  apparent  animation.  Occasionally  the 
fingers  are  drawn  to  a  point,  and  in  many  cases  the  little 
one  is  not  formed. 


COUNTERFEIT    BANK   NOTES.  45 

19. — FEET. 

The  feet  are  as  imperfect  as  the  hands.  The  toes  are 
seldom  all  developed,  and  the  dots  and  lines  are  coarse. 

20. — DRAPERY. 

The  drapery  is  untidy,  and  arranged  in  a  slovenly 
manner  ;  the  dark  material  is  of  a  murky  east,  and  the 
delicate  gossamer  which  enrobes  the  body  shows  many 
very  coarse  threads. 

21. — MALE   FIGURE. 

The  male  figure  has  the  same  imperfections  as  the 
female  ;  and  the  flesh,  eyes,  features,  arms,  and  toes,  are 
determined  in  the  same  manner. 

22. — PORTRAITS. 

The  portraits,  whether  representing  males  or  females, 
from  the  fact  that  the  proportions  are  large,  a  superficial 
observer  would  likely  overlook  their  imperfections. 

The .  eyes  appear  foggy,  and  the  shading  around  them 
is  dark  and  gloomy  ;  the  mouth  lacks  its  characteristic 
expression  ;  the  flesh  partakes  of  the  defects  already 
referred  to,  and  the  entire  countenance  is  stiff  and  arti- 
ficial. 

23. LANDSCAPE. 

The  landscape  is  usually  poorly  executed,  particularly 
the  trees,  which  look  dark  and  blasted.  The  lines  repre- 


46  PEYTON'S  SYSTEM. 

senting  "  still  "  water'  are  scratchy  rather  than  parallel, 
producing  a  muddy  appearance. 

The  sky  is  of  the  same  consistency  as  the  still  water — 
scratchy  and  imperfect. 

24. DOMESTIC   ANIMALS. 

Domestic  animals  are  miserably  executed  ;  to  see  this, 
examine  their  eyes  and  limbs. 

25. — PERSPECTIVE. 

The  perspective  is  always  imperfect ;  the  figures  in 
the  background  can  seldom  be  recognized,  and  the  sky 
appears  to  surround  every  object  in  the  vignette. 

26. — ARCHITECTURE,    SHIPS,    AND   RAILROAD   CARS. 

The  architecture  has  a  black  appearance,  and  when  it 
is  represented  in  the  distance,  the  lines,  which  ought  to 
be  quite  fine,  are  coarse  and  heavy.  Ships  are  poorly 
drawn,  the  texture  of  the  canvas  is  very  coarse,  and  the 
general  appearance  is  bad. 

Railroad  cars  are  also  poorly  executed,  the  lines  which 
denote  the  surface  of  the  wood-work  of  which  they  are 
made,  are  heavy  and  indistinct — the  car  farthest  from 
the  eye  is  usually  the  most  imperfect. 


LI  Bli  A  II  \' 

I'XJVK'KSITY   <H< 

CALIFORNIA. 


ALTERED    BANK   NOTES. 


THERE  are  two  kinds  of  altered  bank  notes :  those 
that  are  altered  from  a  smaller  to  a  higher  denomina- 
tion, and  those  whose  title  or  locality  has  been  extracted 
and  some  other  stamped  on. 

WHERE    THE   DENOMINATION    IS    ALTERED. 

Bank  notes  altered  from  a  smaller  to  a  higher  denomi- 
nation can  be  instantly  detected  by  those  who  know 
anything  of  genuine  engraving,  in  consequence  of  the 
striking  contrast  between  the  part  which  has  been 
altered  and  the  rest  of  the  note,  which,  like  a  patch  of 
coarse  cloth  on  a  fine  garment,  cannot  be  overlooked. 
The  counters  are  generally  extracted  and  counterfeit 
ones  printed  in  their  places  ;  on  examination,  the  miser- 
able execution  will  be  at  once  perceived  ;  the  letters  or 
figures,  denoting  the  denomination,  are  poorly  engraved, 
and  their  outline  and  shading  are  coarse  and  imperfect. 
In  many  instances,  however,  counters  which  have  been 
torii  off  genuine  notes  are  substituted  for  those  ex- 
tracted, by  what  is  termed  the  "  pasting  process."  These 
alterations  can  be  detected  by  holding  the  note  to  the 

47 


48  PEYTON'S  SYSTEM. 

light,  when  the  parts  pasted  on  will  be  discovered.  The 
denomination  in  the  centre  of  the  note,  when  examined, 
letter  by  letter,  will  also  disclose  the  fraud — the  letters 
being  poorly  formed  and  blurred,  and  the  parallel  lines 
upon  which  they  are  engraved,  or  by  which  they  are 
shaded,  being  irregular  and  imperfect. 

Frequently  the  figure  of  the  denomination  is  scraped 
out  of  the  counter,  and  one  denoting  a  larger  denomina- 
tion printed  in ;  examine  its  outline,  and  this  will  be 
discovered. 

WHEN    THE    TITLE,    OR   LOCALITY    IS   ALTERED. 

The  note  can  be  detected,  by  carefully  examining  the 
letters  and  the  parallel  ruling  which  shades  them.  As 
before  stated,  all  counterfeit  letters,  particularly  those 
in  altered  notes,  are  poorly  formed,  blurred,  and  in 
every  instance  without  the  sharp  finished  outline  of  the 
genuine. 

The  parallel  ruling,  out  of  which  many  letters  are 
composed,  and  of  which  all  shading  is  formed,  may 
always  be  detected  by  the  coarse  and  irregular  thick- 
nesses, and  otherwise  scratchy  appearance  which  it  pre- 
sents. In  altering  anything  in  a  note,  the  surface  of 
the  paper  is  very  often  destroyed :  by  comparing  the 
texture  of  the  paper  between  the  letters,  with  that  which 
is  immediately  above  and  below  them,  this  defect  will  be 
discovered. 


PHOTOGRAPHY 


AS 


A    MEANS    OF    COUNTERFEITING 


NOTWITHSTANDING  the  many  statements  put  forth  by 
scientific  men,  as  to  the  dangerous  character  of  Photo- 
graphy, when  applied  to  the  counterfeiting  of  bank 
notes,  it  has  thus  far  (fortunately)  proved  a  failure. 
And,  although  some  bank  notes  counterfeited  by  this 
process  have  been  palmed  off  on  the  unwary,  I  doubt 
very  much  if  the  photograph  can  be  produced  that  will 
deceive  a  good  judge  of  bank  notes.  In  its  manufacture 
there  are  physical  difficulties  to  be  encountered,  at  every 
step :  the  colors  in  which  genuine  bank  notes  are  printed 
are,  to  a  certain  extent,  anti-photographic ;  but  by  far 
the  most  effectual  safeguard  against  this  species  of  fraud 

is  the   SUPERIOR   QUALITY   OF   OUR   BANK-NOTE   ENGRAVING, 

the  sharpness,  clearness,  and  finish  of  which  CAN  NEVER  BE 

IMPARTED  TO  THE  PHOTOGRAPH, 

7  « 


50  PEYTON'S  SYSTEM. 

The  pupil  will  have  no  difficulty  in  detecting  these 
frauds :  the  parallel  ruling,  fine  lathe-work,  hair  lines, 
etc.,  etc.,  will  be  found  very  defective  ;  while  the  entire 
engraving  presents  a  peculiar  purplish,  or  rather  a 
smoky  appearance — frequently  suggesting  the  idea  that 
the  note  has  been  washed,  and  the  ink  partially  ex- 
tracted. 


A   FEW   WOEDS   ABOUT 

"BANK-NOTE    REPORTERS" 

AND 

"DESCRIPTIVE    LISTS." 


A  BANK-NOTE  LIST,  such  as  we  find  published  in  this 
and  other  principal  cities,  is  an  exceedingly  valuable  pub- 
lication :  giving  as  it  does  the  names  and  rates  of  discount 
of  all  the  banks  in  good  standing ;  the  names  of  those  that 
are  broken  and  worthless  ;  the  character  and  quality  of  the 
various  frauds  perpetrated  in  bank  notes  ;  together  with 
a  digest  of  general  financial  information.  Certainly  no 
one  in  business  can  well  do  without  it.  That  its  power, 
however,  to  prevent  fraud  is  limited,  admits  of  no  ques- 
tion, since  it  can  only  give  information  that  a  counter- 
feit has  appeared  AFTER  the  public  have  been  swindled 
by  the  same.  Counterfeiters  are  by  no  means  so  com- 
municative as  to  inform  the  publisher  of  a  Bank-Note 
List  that,  on  a  certain  day,  and  on  a  certain  bank,  they 
are  going  to  circulate  a  certain  counterfeit :  on  the  con- 


51 


52  PEYTON'S  SYSTEM  OF  DETECTING 

trary,  they  will  take  good  care  to  flood  the  various  cities 
simultaneously,  so  that  even  the  telegraph  has  sharp  work 
to  give  publicity  to  their  actions.  Yet  there  are  persons 
to  be  found  who  suppose  that  the  editors  of  these  jour- 
nals possess  oracular  power,  by  which  frauds  on  the 
bank-note  currency  can  be  anticipated,  and  that  it  is  only 
necessary  to  turn  to  the  pages  of  their  "  Detector,"  to 
obtain  the  desired  information.  It  is  no  easy  matter  to 
explain  to  them  the  true  state  of  the  case,  as  they  per- 
sist in  telling  you  that  they  received  it  (the  note  which 
you  have  just  informed  them  is  a  counterfeit)  * '  because 
there  was  nothing  about  it  in  the  Reporter."  After  the 
counterfeit  has  made  its  appearance,  a  description  of  it  is 
to  be  found  in  the  Detector ;  but  unfortunately,  in  the 
vast  majority  of  cases,  language  alone  is  not  sufficient  to 
point  out  the  defects,  which  only  the  practised  eye  can 
detect,  and  the  poor  resource  left  to  those  thus  ignorant 
of  what  constitutes  the  genuine  work  is,  in  the  expressive 
and  highly  suggestive  words  of  the  " Detector"  afore- 
said, "  better  refuse  all  bills  of  this  plate" 

The  Descriptive  List  is  intended  to  give  a  description 
of  the  leading  features  of  genuine  bank  notes.  To  give 
an  example :  We  have  before  us  a  ten- dollar  bill,  pur- 
porting to  have  been  issued  by  the  Broadway  Bank, 
New  York  City,  and  we  wish  to  ascertain  if  it  is  good. 
We  turn  to  the  Descriptive  List  and  find  the  description 
of  the  ten- dollar  notes  of  that  Bank  to  be  as  follows  : — 


COUNTERFEIT   BANK   NOTES.  53 

"  10 — 10,  female,  cars,  canal,  ships  and  city."  We  now 
examine  our  note,  and  find  that  it  corresponds  in  every 
respect  with  said  description,  and  we  of  course  pro- 
nounce it  genuine.  We  receive  the  note,  and  in  due 
time  take  it  to  the  Bank  for  redemption  •  but,  to  our 
surprise,  we  are  informed  that  it  is  not  good,  and 
although  it  answers  to  the  description  of  the  genuine,  it 
is  nothing  but  a  counterfeit  fac-simile  of  the  same.  On 
the  other  hand,  it  will  be  perceived  that  if  the  note  in 
question  had  not  answered  to  the  description  called  for 
by  the  List,  it  would  have  been  pronounced  bad,  and 
perhaps  correctly  so. 

The  Descriptive  List,  then,  is  useful  in  cases  in  which 
fraudulent  issues  bear  no  resemblance  to  the  genuine  ; 
but  it  is  worse  than  useless  in  those  instances  wherein 
similar  notes  are  copied,  in  whole  or  in  part,  from  the 
genuine. 

In  conclusion,  I  have  to  say  that  no  work  whose  pages 
require  to  be  constantly  examined,  in  order  to  ascertain 
the  character  of  every  note  presented,  can  ever  be  a 
serviceable  one,  since  it  would  be  utterly  impossible  for 
a  person  engaged  in  business  to  be  every  moment  turn- 
ing to  those  pages,  and  then,  after  a  lapse  of  years,  find 
that  he  knows  as  little  about  the  quality  of  paper  money 
as  he  did  at  first. 


54  PEYTON'S  SYSTEM. 

CONCLUDING-  REMARKS. 

HAVING  now  brought  this  Treatise  to  a  close,  I  may 
be  permitted  to  offer  a  word  of  counsel  to  those  who 
consider  the  subject  discussed  in  the  foregoing  pages  of 
sufficient  importance  to  them  to  devote  a  little  of  their 
tune  to  its  acquisition.  I  shall  be  frank  to  assure  such 
that  without  constant  practice,  and  frequent  application 
of  the  points  and  rules  laid  down,  they  need  not  hope 
for  success.  Nothing  requires  more  care  and  caution 
than  the  study  of  bank  notes  :  a  "little  learning"  here 
will  be  found  strictly  in  accordance  with  the  Poet's  defi- 
nition and  admonition.  Those,  however,  who  are 
determined  to  improve  themselves,  will  find  that  every 
hour's  study  adds  to  their  fund  of  knowledge,  and  that, 
step  by  step,  they  are  acquiring  an  accomplishment,  the 
value  of  which,  in  a  business  point  of  view,  can  hardly 
be  over-estimated. 


THE   END. 


-«I  B,R  A  Ii  V 

|  UNI VE us. i TV  o 
CAUFof.'.VfA. 


L 


u  A  a  \ 


I 

iv> 


I 


p  o }  10 '  <  o  *  f  o 


>&Q 
m 


/ 


n  r>  G  f 
//^  <' 


14  DAY  USE 

KBTURN  TO  DBSK  FROM  WHICH  BOKKOWED 

LOAN  DEPT. 


Renewed  books  are  subjec 



7l*tv 


LD  21— 100m-6,'58 

(B9311slO)476 


VC  24168 


f 


